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Prices of sugar have slightly increased due to the strengthening of the Brazilian real: futures market digest.
agricultural products
Sugar

Prices of sugar have slightly increased due to the strengthening of the Brazilian real: futures market digest.

Prices for sugar rose on Friday: the July SBN24 futures in New York increased by +0.03 (19.28; +0.16%), while the August SWQ24 futures in London grew by +1.50 (572.00; +0.26%). The reason was the strengthening of the Brazilian real against the dollar, which reduces sugar exports.

24 June 2024 24 June 2024

At the close of trading on Friday, the July sugar futures contract No. 11 in New York (SBN24) showed a slight increase of +0.03 (19.28; +0.16%), while the August white sugar ICE No. 5 futures contract in London (SWQ24) closed with a gain of +1.50 (572.00; +0.26%), according to data from Barchart.

On Friday, sugar prices saw a modest increase. The reason for closing short positions in sugar futures was the rise of the Brazilian real (^USDBRL) against the dollar to a three-week high. This reduces export sales for Brazilian sugar producers.

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